The iPhone slump continued in the following two quarters, which led to Apple's first annual sales decline since 2001. Mizuho now has a buy rating on the iPhone maker's stock. Colorado Capital Management Inc. raised its stake in Apple by 0.5% in the third quarter.
But the company has been losing market share in recent years to a wave of less-expensive Chinese brands like Huawei and Oppo. And how many iPhones, iPads, Macs and Apple Watches did Apple sell this quarter? The company attributed the increase to a "very strong product mix and the unbelievable success of iPhone 7 Plus" on its earnings call. Of course, the iPhone 7 caused great controversy upon its announcement after Apple chose not to include the industry-standard 3.5mm headphone jack on the device, but the device seems nearly overlooked as investors are already gearing up for the 10 anniversary iPhone 8.
Other than selling pricer phones, Apple has tried to squeeze more profit from its handsets through pressuring suppliers to lower prices.More news: NFL Draft: Pittsburgh Steelers final grade
The report also noted that OLED display for the iPhone 8 and 8 Plus are much larger than that of the iPhone 7 and 7 Plus, respectively, released a year ago, but will have an overall touchscreen display size closer to the iPhone 7.
For all the navel gazing about how CEO Tim Cook has and has not changed Apple since he took over in 2011, the most truly radical change he made came in 2012, when the company announced it would start paying a dividend for the first time since 1995 and would start using its cash to buy back shares of its stock. The company has a market cap of $719.62 billion, a PE ratio of 16.47 and a beta of 1.26. The company's 50 day moving average price is $127.30 and its 200-day moving average price is $116.03. Apple Inc. (AAPL) expects sales to be between $43.5 billion and $45.5 billion and its gross margin to be between 37.5% and 38.5%. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Apple has just published its financial results for Q2 2017, which covered the period from January 1, 2017 through to April 1, 2017. The stock was sold at an average price of $145.05, for a total value of $2,945,530.35. Insiders sold a total of 420,109 shares of company stock valued at $53,311,281 in the last 90 days. The disclosure for this sale can be found here. Institutional investors own 58.76% of the company's stock.More news: ASEAN states urge N Korea to comply with all intl. obligations
"Right now, it's really about the upcoming iPhone cycle and how that plays out towards the year's end", said Brian Fox, senior vice president at Boston-based Standard Life Investments, which counts Apple among its $350 billion in assets.
This trend may have a number of implications for the future of Apple's iPhone business, far and away the core pillar of the entire corporation and around which every other product and service decision orbits.More news: US congressional talks yield deal to fund government through September